CMC SECURITIES CORP II
8-K, 2000-05-24
ASSET-BACKED SECURITIES
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<PAGE>   1

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                  -------------


                                    FORM 8-K


                                 CURRENT REPORT


                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

                         Date of Report: MARCH 25, 2000
                                         ---------------
                        (Date of Earliest Event Reported)



                          CMC SECURITIES CORPORATION II
             ------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)


          DELAWARE                     33-56778                 75-2473215
  (State of Incorporation)       (Commission File No.)       (I.R.S. Employer
                                                            Identification No.)


                     8401 N Central Expressway
                             Suite 800
                           Dallas, Texas                       75225
             ----------------------------------------------------------
               (Address of Principal Executive Offices)      (Zip Code)


       Registrant's Telephone Number, Including Area Code: (214) 874-2323
                                                           --------------

<PAGE>   2



                          CMC SECURITIES CORPORATION II

                                    FORM 8-K



                                      INDEX

<TABLE>
<CAPTION>
                                                                                                    PAGE
                                                                                                    ----
<S>         <C>                                                                                     <C>
ITEM NUMBER

   Item 5.  Other Events.......................................................................        3

   Item 7.  Financial Statements and Exhibits..................................................        3

SIGNATURES  ...................................................................................        3
</TABLE>


                                       2
<PAGE>   3



                              ITEM 5. OTHER EVENTS.

Monthly distributions of principal and interest are made with respect to the
outstanding Series of CMC Securities Corporation II's REMIC Pass-Through
Certificates listed below as of the 25th day of each calendar month (each, a
"Distribution Date"). In connection with each Distribution Date for each
outstanding Series, the Trustee receives a report (each, a "Collateral Summary
and Remittance Report") containing certain information regarding remittances on
the collateral underlying the related Certificates. Based on such information,
the Trustee is required to prepare and mail to each Certificateholder of each
outstanding Series on each Distribution Date a statement to certificateholders
(each, a "Statement to Certificateholders") setting forth certain information
regarding the Certificates of such Series as of such Distribution Date. Relevant
information contained in the Collateral Summary and Remittance Report and
Statement to Certificateholders for the MARCH 25, 2000 Distribution Date for
each outstanding Series is summarized and included as Exhibits to this filing.
Capitalized terms used herein but not otherwise defined have the meanings set
forth in the applicable Pooling Agreement.

<TABLE>
<CAPTION>
         SERIES DESIGNATION                        DISTRIBUTION OF PRINCIPAL AND INTEREST ON SERIES
         ------------------                        ------------------------------------------------
<S>                                                <C>
           Series 1993-2A                                               $781,224.78
           Series 1993-2B                                                      *
           Series 1993-2C                                               $880,642.78
           Series 1993-2D                                             $1,112,405.21
           Series 1993-2E                                             $1,408,562.08
           Series 1993-2F                                                     **
           Series 1993-2G                                             $1,042,462.02
           Series 1993-2H                                                      *
           Series 1993-2I                                               $695,739.82
           Series 1995-A                                                $405,421.58
           Series 1996-A                                                $981,684.38
           Series 1996-B                                              $1,010,658.94
           Series 1996-C                                              $1,343,583.01
</TABLE>

           * These certificates were redeemed in February 2000 pursuant to their
           respective redemption provisions.

           ** In March 2000 the issuer redeemed the remaining outstanding
           certificates of 1993-2F pursuant to this securitization's redemption
           provisions. This distribution amounted to $22,376,713,85.

                   ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.

         (c)  Exhibits:

<TABLE>
<CAPTION>
              SERIES            EXHIBIT NO.            DESCRIPTION
              ------            -----------            -----------
<S>                             <C>                    <C>
              All                    28.1              Collateral Summary and Remittance Report.
              All                    28.2              Summary of Trustee's Reports to Bondholders.
</TABLE>

                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                 CMC SECURITIES CORPORATION II


May 22, 2000                     By: /s/ Phillip A. Reinsch
                                     ------------------------------------------
                                     Phillip A. Reinsch - Senior Vice President


                                       3
<PAGE>   4

                               INDEX TO EXHIBITS


<TABLE>
<CAPTION>
EXHIBIT
NUMBER                          DESCRIPTION
- -------                         -----------
<S>                <C>
 28.1              Collateral Summary and Remittance Report.
 28.2              Summary of Trustee's Reports to Bondholders.
</TABLE>


<PAGE>   1
                                                                    EXHIBIT 28.1

CAPSTEAD MORTGAGE CORPORATION
COLLATERAL SUMMARY AND REMITTANCE REPORT
FOR MONTH ENDING:  25-MAR-00
MASTER SERVICING DIVISION

<TABLE>
<CAPTION>
DEAL REFERENCE                                                       93-2A           93-2B             93-2C             93-2D
                                                                ---------------    ---------     ---------------   ---------------
<S>                                                             <C>                <C>           <C>               <C>
BEGINNING SECURITY BALANCE                                      $ 22,999,121.04    $      --     $ 65,352,873.76   $ 43,118,571.83
  Loans Repurchased                                                          --           --                  --                --
  Scheduled Principal Distribution                                    36,372.28           --          105,214.20        371,495.93
  Additional Principal Distribution                                   10,048.63           --            9,937.59         66,655.74
  Liquidations Distribution                                          591,347.40           --          366,349.19        430,805.03
  Accelerated Prepayments                                                    --           --                  --                --
  Adjustments (Cash)                                                         --           --                  --                --
  Adjustments (Non-Cash)                                                     --           --                  --                --
  Losses/Foreclosures                                                        --           --                  --                --
  Special Hazard Account                                                     --           --                  --                --
                                                                ---------------    ---------     ---------------   ---------------
                                     Ending Security Balance    $ 22,361,352.73    $      --     $ 64,871,372.78   $ 42,249,615.13
                                                                ===============    =========     ===============   ===============

INTEREST DISTRIBUTION:

Due Certificate Holders                                         $    141,919.99    $      --     $    398,421.82   $    242,503.98
Compensating Interest                                                  1,536.49           --              719.98            944.53

  Trustee Fee (Tx. Com. Bk.)                                             258.74           --              816.91            538.98
  Pool Insurance Premium (PMI Mtg. Ins.)                                     --           --                  --                --
  Pool Insurance (GE Mort. Ins.)                                       5,565.79           --                  --          6,942.09
  Pool Insurance (United Guaranty Ins.)                                      --           --                  --                --
  Backup for Pool Insurance (Fin. Sec. Assur.)                               --           --                  --                --
  Special Hazard Insurance (Comm. and Ind.)                            1,092.46           --                  --                --
  Bond Manager Fee (Capstead)                                            364.15           --              816.91            628.81
  Excess Compensating Interest (Capstead)                                    --           --                  --                --
  Administrative Fee (Capstead)                                          622.91           --            2,723.06          1,347.44
  Administrative Fee (Other)                                                 --           --                  --                --
  Excess-Fees                                                                --           --                  --                --
  Special Hazard Insurance (Aetna Casualty)                                  --           --                  --                --
  Other                                                                      --           --                  --                --
                                                                ---------------    ---------     ---------------   ---------------
                                                  Total Fees           7,904.05           --            4,356.88          9,457.32
                                                                ---------------    ---------     ---------------   ---------------
 Servicing Fee                                                         7,232.82           --           16,980.94         11,908.37
 Interest on Accelerated Prepayments                                         --           --                  --                --
                                                                ---------------    ---------     ---------------   ---------------
                                 Total Interest Distribution    $    158,593.35    $      --     $    420,479.62   $    264,814.20
                                                                ===============    =========     ===============   ===============
LOAN COUNT                                                                   88            0                 253               216
WEIGHTED AVERAGE PASS-THROUGH RATE                                     7.484972            0            7.328984          6.775229
</TABLE>


                                     Page 1
<PAGE>   2


CAPSTEAD MORTGAGE CORPORATION
COLLATERAL SUMMARY AND REMITTANCE REPORT
FOR MONTH ENDING:  25-MAR-00
MASTER SERVICING DIVISION


<TABLE>
<CAPTION>
DEAL REFERENCE                                                      93-2E.A            93-2E.B        93-2F         93-2G
                                                                ---------------    ---------------   -------   ----------------
<S>                                                             <C>                <C>               <C>       <C>
BEGINNING SECURITY BALANCE                                      $ 28,185,051.76    $ 73,554,551.32   $    --   $ 106,853,007.95
  Loans Repurchased                                                          --                 --        --                 --
  Scheduled Principal Distribution                                   226,286.54         105,639.31        --         162,214.80
  Additional Principal Distribution                                    6,805.35          14,567.76        --          28,590.08
  Liquidations Distribution                                          276,239.89         187,713.21        --         214,766.98
  Accelerated Prepayments                                                    --                 --        --                 --
  Adjustments (Cash)                                                         --                 --        --                 --
  Adjustments (Non-Cash)                                                     --                 --        --                 --
  Losses/Foreclosures                                                        --                 --        --                 --
  Special Hazard Account                                                     --                 --        --                 --
                                                                ---------------    ---------------   -------   ----------------
                                     Ending Security Balance    $ 27,675,719.98    $ 73,246,631.04   $    --   $ 106,447,436.09
                                                                ===============    ===============   =======   ================
INTEREST DISTRIBUTION:

Due Certificate Holders                                         $    155,526.95    $    434,726.96   $    --   $     636,826.99
Compensating Interest                                                    830.81             225.23        --              63.17

  Trustee Fee (Tx. Com. Bk.)                                             305.34             796.84        --           1,202.10
  Pool Insurance Premium (PMI Mtg. Ins.)                               6,200.71          16,182.00        --                 --
  Pool Insurance (GE Mort. Ins.)                                             --                 --        --                 --
  Pool Insurance (United Guaranty Ins.)                                      --                 --        --                 --
  Backup for Pool Insurance (Fin. Sec. Assur.)                               --                 --        --                 --
  Special Hazard Insurance (Comm. and Ind.)                                  --                 --        --                 --
  Bond Manager Fee (Capstead)                                            352.31             919.43        --           1,335.66
  Excess Compensating Interest (Capstead)                                    --                 --        --                 --
  Administrative Fee (Capstead)                                          998.24           2,605.20        --           4,452.39
  Administrative Fee (Other)                                                 --                 --        --                 --
  Excess-Fees                                                                --                 --        --                 --
  Special Hazard Insurance (Aetna Casualty)                                  --                 --        --                 --
  Other                                                                      --                 --        --                 --
                                                                ---------------    ---------------   -------   ----------------
                                                  Total Fees           7,856.60          20,503.47        --           6,990.15
                                                                ---------------    ---------------   -------   ----------------
 Servicing Fee                                                         7,814.19          19,147.86        --          26,468.82
 Interest on Accelerated Prepayments                                         --                 --        --                 --
                                                                ---------------    ---------------   -------   ----------------
                                 Total Interest Distribution    $    172,028.55    $    474,603.52   $    --   $     670,349.13
                                                                ===============    ===============   =======   ================
LOAN COUNT                                                                  137                257         0                399
WEIGHTED AVERAGE PASS-THROUGH RATE                                      6.65705           7.095994         0           7.152519
</TABLE>


                                     Page 2
<PAGE>   3


CAPSTEAD MORTGAGE CORPORATION
COLLATERAL SUMMARY AND REMITTANCE REPORT
FOR MONTH ENDING:  25-MAR-00
MASTER SERVICING DIVISION


<TABLE>
<CAPTION>
DEAL REFERENCE                                                   93-2H.1     93-2H.2        93-2I             93-2I.1
                                                                ---------   ---------   ---------------   ---------------
<S>                                                             <C>         <C>         <C>               <C>
BEGINNING SECURITY BALANCE                                      $      --   $      --   $ 13,496,684.25   $ 11,207,228.11
  Loans Repurchased                                                    --          --                --                --
  Scheduled Principal Distribution                                     --          --         16,150.08         13,027.57
  Additional Principal Distribution                                    --          --            991.20          2,682.84
  Liquidations Distribution                                            --          --                --                --
  Accelerated Prepayments                                              --          --                --                --
  Adjustments (Cash)                                                   --          --              7.13                --
  Adjustments (Non-Cash)                                               --          --                --                --
  Losses/Foreclosures                                                  --          --                --                --
  Special Hazard Account                                               --          --                --                --
                                                                ---------   ---------   ---------------   ---------------
                                     Ending Security Balance    $      --   $      --   $ 13,479,535.84   $ 11,191,517.70
                                                                =========   =========   ===============   ===============
INTEREST DISTRIBUTION:
Due Certificate Holders                                         $      --   $      --   $     88,636.39   $     73,717.82
Compensating Interest                                                  --          --                --                --

  Trustee Fee (Tx. Com. Bk.)                                           --          --            168.67            140.09
  Pool Insurance Premium (PMI Mtg. Ins.)                               --          --          2,881.59                --
  Pool Insurance (GE Mort. Ins.)                                       --          --                --          3,294.93
  Pool Insurance (United Guaranty Ins.)                                --          --                --                --
  Backup for Pool Insurance (Fin. Sec. Assur.)                         --          --            956.01                --
  Special Hazard Insurance (Comm. and Ind.)                            --          --                --                --
  Bond Manager Fee (Capstead)                                          --          --            708.81                --
  Excess Compensating Interest (Capstead)                              --          --                --                --
  Administrative Fee (Capstead)                                        --          --             36.91            466.92
  Administrative Fee (Other)                                           --          --                --                --
  Excess-Fees                                                          --          --                --                --
  Special Hazard Insurance (Aetna Casualty)                            --          --            403.77            290.45
  Other                                                                --          --              0.02                --
                                                                ---------   ---------   ---------------   ---------------
                                                  Total Fees           --          --          5,155.78          4,192.39
                                                                ---------   ---------   ---------------   ---------------
 Servicing Fee                                                         --          --          4,217.70          3,502.27
 Interest on Accelerated Prepayments                                   --          --                --                --
                                                                ---------   ---------   ---------------   ---------------
                                 Total Interest Distribution    $      --   $      --   $     98,009.87   $     81,412.48
                                                                =========   =========   ===============   ===============
LOAN COUNT                                                              0           0                58                46
WEIGHTED AVERAGE PASS-THROUGH RATE                                      0           0          7.943748          7.893244
</TABLE>


                                     Page 3
<PAGE>   4


CAPSTEAD MORTGAGE CORPORATION
COLLATERAL SUMMARY AND REMITTANCE REPORT
FOR MONTH ENDING:  25-MAR-00
MASTER SERVICING DIVISION


<TABLE>
<CAPTION>
DEAL REFERENCE                                                    93-2I.2            1995-A           1996-A            1996-B
                                                               ---------------  ---------------  ---------------   ---------------
<S>                                                            <C>              <C>              <C>               <C>
BEGINNING SECURITY BALANCE                                     $ 17,824,813.12  $ 29,772,680.88  $ 23,680,907.36   $ 45,118,500.34
  Loans Repurchased                                                         --               --               --                --
  Scheduled Principal Distribution                                   20,029.30        33,904.00        30,784.20         56,919.12
  Additional Principal Distribution                                   5,823.51        25,927.92         2,400.05         25,235.74
  Liquidations Distribution                                         357,274.48       159,744.40       807,353.66        660,277.59
  Accelerated Prepayments                                                   --               --               --                --
  Adjustments (Cash)                                                        --               --               --                --
  Adjustments (Non-Cash)                                                    --               --               --                --
  Losses/Foreclosures                                                       --               --               --                --
  Special Hazard Account                                                    --               --               --                --
                                                               ---------------  ---------------  ---------------   ---------------
                                     Ending Security Balance   $ 17,441,685.83  $ 29,553,104.56  $ 22,840,369.45   $ 44,376,067.89
                                                               ===============  ===============  ===============   ===============
INTEREST DISTRIBUTION:
Due Certificate Holders                                        $    117,399.48  $    185,845.27  $    141,146.47   $    268,226.53
Compensating Interest                                                       --               --               --                --

  Trustee Fee (Tx. Com. Bk.)                                            222.81           248.11           296.01            563.98
  Pool Insurance Premium (PMI Mtg. Ins.)                              5,143.95               --               --         12,193.27
  Pool Insurance (GE Mort. Ins.)                                            --        11,164.76         6,820.10                --
  Pool Insurance (United Guaranty Ins.)                                     --               --               --                --
  Backup for Pool Insurance (Fin. Sec. Assur.)                          907.30               --               --          1,164.46
  Special Hazard Insurance (Comm. and Ind.)                                 --               --               --                --
  Bond Manager Fee (Capstead)                                               --               --               --                --
  Excess Compensating Interest (Capstead)                               787.86           716.48         2,667.89          2,548.36
  Administrative Fee (Capstead)                                         742.71           762.70           986.67          1,880.03
  Administrative Fee (Other)                                                --               --               --                --
  Excess-Fees                                                               --               --               --                --
  Special Hazard Insurance (Aetna Casualty)                             533.26           682.29           542.68          1,304.67
  Other                                                                     --               --               --                --
                                                               ---------------  ---------------  ---------------   ---------------
                                                  Total Fees          8,337.89        13,574.34        11,313.35         19,654.77
                                                               ---------------  ---------------  ---------------   ---------------
 Servicing Fee                                                        5,570.30         9,303.95         6,552.39         13,428.21
 Interest on Accelerated Prepayments                                        --               --               --                --
                                                               ---------------  ---------------  ---------------   ---------------
                                 Total Interest Distribution   $    131,307.67  $    208,723.56  $    159,012.21   $    301,309.51
                                                               ===============  ===============  ===============   ===============
LOAN COUNT                                                                  75              143               88               163
WEIGHTED AVERAGE PASS-THROUGH RATE                                    7.903554         7.490569         7.152419          7.133921
</TABLE>


                                     Page 4
<PAGE>   5


CAPSTEAD MORTGAGE CORPORATION
COLLATERAL SUMMARY AND REMITTANCE REPORT
FOR MONTH ENDING:  25-MAR-00
MASTER SERVICING DIVISION


<TABLE>
<CAPTION>
DEAL REFERENCE                                                    1996-C.1         1996-C.2         1996-C.3
                                                               --------------   ---------------  ---------------
<S>                                                            <C>              <C>              <C>
BEGINNING SECURITY BALANCE                                     $ 7,670,640.53   $ 15,985,760.09  $ 15,498,148.32
  Loans Repurchased                                                        --                --               --
  Scheduled Principal Distribution                                   7,943.74         19,295.00        15,744.46
  Additional Principal Distribution                                    511.22          1,960.97           858.15
  Liquidations Distribution                                        647,499.33                --       404,095.12
  Accelerated Prepayments                                                  --                --               --
  Adjustments (Cash)                                                       --                --               --
  Adjustments (Non-Cash)                                                   --                --               --
  Losses/Foreclosures                                                      --                --               --
  Special Hazard Account                                                   --                --               --
                                                               --------------   ---------------  ---------------
                                     Ending Security Balance   $ 7,014,686.24   $ 15,964,504.12  $ 15,077,450.59
                                                               ==============   ===============  ===============
INTEREST DISTRIBUTION:
Due Certificate Holders                                        $    48,132.66   $    100,259.49  $     97,282.87
Compensating Interest                                                      --                --               --

  Trustee Fee (Tx. Com. Bk.)                                            95.88            133.21           129.15
  Pool Insurance Premium (PMI Mtg. Ins.)                                   --                --               --
  Pool Insurance (GE Mort. Ins.)                                     2,209.15                --               --
  Pool Insurance (United Guaranty Ins.)                                    --                --         5,773.06
  Backup for Pool Insurance (Fin. Sec. Assur.)                             --                --               --
  Special Hazard Insurance (Comm. and Ind.)                                --                --               --
  Bond Manager Fee (Capstead)                                              --                --         3,325.78
  Excess Compensating Interest (Capstead)                            2,537.08                --         1,137.98
  Administrative Fee (Capstead)                                        383.54            333.03           627.44
  Administrative Fee (Other)                                               --                --               --
  Excess-Fees                                                              --                --               --
  Special Hazard Insurance (Aetna Casualty)                            175.78                --           448.15
  Other                                                                    --                --               --
                                                               --------------   ---------------  ---------------
                                                  Total Fees         5,401.43            466.24        11,441.56
                                                               --------------   ---------------  ---------------
 Servicing Fee                                                       2,397.07          3,694.11         4,843.17
 Interest on Accelerated Prepayments                                       --                --               --
                                                               --------------   ---------------  ---------------
                                 Total Interest Distribution   $    55,931.16   $    104,419.84  $    113,567.60
                                                               ==============   ===============  ===============
LOAN COUNT                                                                 36                76               70
WEIGHTED AVERAGE PASS-THROUGH RATE                                   7.529905           7.52616         7.789987
</TABLE>


                                     Page 5

<PAGE>   1

CMC SECURITIES CORPORATION II      SOURCE:  CHASE BANK OF TEXAS    EXHIBIT 28.2
BOND BALANCES AND FACTORS          MARCH 2000 DISTRIBUTION


<TABLE>
<CAPTION>
 SERIES   PAYMENT DATE  CLOSING BALANCE  CURRENT BALANCE

                                         CLOSING BALANCE  INTEREST PAID  PRINCIPAL PAID  CURRENT BALANCE  % OF CURRENT   CURRENT
 CLASS    CUSIP NUMBER      COUPON          PER CLASS       PER $1000       PER $1000       PER CLASS       BALANCE       FACTOR
- -------   ------------  ---------------  ---------------  -------------  --------------  ---------------  ------------  -----------
<S>       <C>           <C>              <C>              <C>            <C>             <C>              <C>           <C>
1993-2A      3/27/00     149,572,077.00    22,361,351.50
- -------      -------    ---------------  ---------------

    A        125714AC9                     34,791,000.00
    D        125714AD7                      8,535,000.00
    E        125714AE5                     28,652,000.00
    F        125714AG0                     10,692,000.00   0.0006142957    0.0520585615       530,516.18          2.37   0.049618049
    G        125714AH8                     16,410,000.00   0.0060416667               0    16,410,000.00         73.39             1
    H        125714AJ4                      3,006,000.00   0.0060416667               0     3,006,000.00         13.44             1
    I        125714AF2                     12,057,000.00              0               0             0.00          0.00             0
    J        125714AK1                      2,901,000.00   0.0047900862    0.0219855808     2,236,253.82         10.00  0.7708561944
    KPO      125714AM7                        772,949.00              0    0.0224826606       178,453.50          0.80  0.2308735764
    LIO      125714AN5                              0.00   0.0000380195               0             0.00          0.00             0
    R        125714AL9                            128.00    0.006015625               0           128.00          0.00             1


1993-2B      3/27/00     189,529,970.00
- -------      -------    ---------------

   2B-A      125714AP0                     189,529,000.0


1993-2C      3/27/00     207,040,201.00    64,871,372.31
- -------      -------    ---------------  ---------------

    A-2      125714BB0                     27,680,000.00
    A-3      125714BC8                     10,312,000.00
    A-4      125714BD6                     33,521,000.00
    A-5      000005CQR                     84,357,000.00   0.0039001191    0.0051752287    53,432,131.72         82.37  0.6334048356
    A-R      125714AZ8                          1,000.00        0.00611               0         1,000.00          0.00             1
    B-1      000007CQR                      5,694,392.00   0.0049271371    0.0032390903     4,575,433.04          7.05  0.8034980802
    B-2      000008CQR                      3,623,203.00   0.0049271377    0.0032390898     2,911,237.41          4.49  0.8034982887
    B-3      000009CQR                      2,588,003.00   0.0049271388    0.0032390921     2,079,455.97          3.21  0.8034982842
    B-4      000010CQR                      1,345,761.00   0.0049271379    0.0032390893     1,081,316.68          1.67  0.8034983032
    B-5      000011CQR                        621,120.00   0.0049271316    0.0032390842       499,068.87          0.77  0.8034983095
    B-6      000012CQR                      1,138,722.00   0.0015646751               0       291,728.62          0.45  0.2561895002
</TABLE>


<PAGE>   2


CMC SECURITIES CORPORATION II      SOURCE:  CHASE BANK OF TEXAS
BOND BALANCES AND FACTORS          MARCH 2000 DISTRIBUTION


<TABLE>
<CAPTION>

 SERIES   PAYMENT DATE  CLOSING BALANCE  CURRENT BALANCE

                                         CLOSING BALANCE  INTEREST PAID  PRINCIPAL PAID  CURRENT BALANCE  % OF CURRENT   CURRENT
 CLASS    CUSIP NUMBER      COUPON          PER CLASS       PER $1000       PER $1000       PER CLASS       BALANCE       FACTOR
- --------  ------------  ---------------  ---------------  -------------  --------------  ---------------  ------------  -----------
<S>       <C>           <C>              <C>              <C>            <C>             <C>              <C>           <C>
1993-2D      3/27/00     175,093,365.00    42,249,615.78
- --------     -------    ---------------  ---------------

      A      125714AR6                     50,026,000.00
      AB     125714AS4                     26,754,000.00
      B      125714AT2                     39,792,000.00
      C      125714AU9                     29,251,000.00   0.0026729794    0.0297069057    12,979,250.78         30.72  0.4437198995
      D      125714AV7                     17,072,000.00   0.0056460245               0    17,072,000.00         40.41             1
      E      125714AW5                      1,897,000.00   0.0056460253               0     1,897,000.00          4.49             1
      F      125714AX3                     10,300,365.00   0.0056460242               0    10,300,365.00         24.38             1
      R      125714AY1                          1,000.00        0.00564               0         1,000.00          0.00             1


1993-2E      3/27/00     317,870,015.00   100,922,349.75
- --------     -------    ---------------  ---------------

     15A     125714BE4                     86,454,000.00   0.0016074159    0.0052425139    24,252,102.27         24.03  0.2805203029
     15B     125714BF1                      9,494,478.45   0.0016074164    0.0052425146     2,663,393.97          2.64  0.2805203161
     15CPO   125714BG9                      1,972,695.84              0    0.0031550984       759,303.43          0.75   0.384906458
     15DIO   125714BH7                          5,911.86   0.3583322057    0.0163362652           920.28          0.00  0.1556630582
     30A     125714BT1                     29,444,000.00
     30B     125714BL8                      9,738,000.00
     30CIO   125714BM6                              0.00              0               0             0.00          0.00             0
     30D     125714BU8                        922,000.00
     30E     125714BV6                     29,092,000.00
     30F     125714BW4                     11,747,000.00
     30G     125714BX2                     24,409,000.00   0.0011780987     0.012348569     4,628,221.78          4.59  0.1896112819
     30H     125714BY0                     21,450,000.00   0.0058333305               0    21,450,000.00         21.25             1
     30I     125714BZ7                     13,542,000.00   0.0058333304               0    13,542,000.00         13.42             1
     30J     125714CA1                     40,256,000.00   0.0028099635               0    23,195,750.48         22.98  0.5762060433
     30K     125714CB9                     17,252,571.43   0.0046474204               0     9,941,035.90          9.85  0.5762060565
     30NIO   125714BR5                              0.00   0.0000399114               0             0.00          0.00             0
     30PPO   125714BS3                      1,089,658.82              0    0.0059688949       489,621.64          0.49  0.4493347368
</TABLE>


<PAGE>   3

CMC SECURITIES CORPORATION II      SOURCE:  CHASE BANK OF TEXAS
BOND BALANCES AND FACTORS          MARCH 2000 DISTRIBUTION

<TABLE>
<CAPTION>
 SERIES   PAYMENT DATE  CLOSING BALANCE  CURRENT BALANCE

                                         CLOSING BALANCE  INTEREST PAID  PRINCIPAL PAID  CURRENT BALANCE  % OF CURRENT   CURRENT
 CLASS    CUSIP NUMBER      COUPON          PER CLASS       PER $1000       PER $1000       PER CLASS       BALANCE       FACTOR
- --------  ------------  ---------------  ---------------  -------------  --------------  ---------------  ------------  -----------
<S>       <C>           <C>              <C>              <C>            <C>             <C>              <C>           <C>

1993-2F      3/27/00     222,866,291.00             0.00
- --------     -------    ---------------  ---------------

      A      125714BJ3                      222,866,000.0  0.0005793573    0.0998249836             0.00                           0


1993-2G      3/27/00     246,780,547.00   106,447,436.08
- -------      -------    ---------------  ---------------

  2G-A1      125714CR4                     59,032,000.00
  2G-A2      125714CS2                     27,342,000.00              0               0             0.00          0.00             0
  2G-A3      125714CT0                     25,200,000.00
  2G-A4      125714CU7                     15,000,000.00              0               0             0.00          0.00             0
  2G-A5      125714A#2                     100,190,000.0   0.0054055244    0.0036603358    90,495,716.72         85.01  0.9032410093
  2G-B1      125714A@4                      4,936,000.00   0.0050524129    0.0020590559     4,173,879.62          3.92  0.8455995989
  2G-B2      125714B#1                      3,701,000.00   0.0050524129    0.0020590543     3,129,564.12          2.94  0.8455996001
  2G-B3      125714B*5                      1,481,000.00   0.0050524105    0.0020590547     1,252,332.99          1.18  0.8455995881
  2G-B4      125714B@3                        740,000.00   0.0050524054    0.0020590541       625,743.68          0.59  0.8455995676
  2G-B5      125714C#0                      1,481,547.00   0.0020576937    0.0020595897       510,225.33          0.48  0.3443868672
   2G-M      125714A*6                      7,403,000.00   0.0050524125    0.0020590558     6,259,973.62          5.88  0.8455995704
 2GA3IO      125714CP8                              0.00              0            0.00             0.00          0.00             0
 2GA4IO      125714CQ6                              0.00              0            0.00             0.00          0.00             0


1993-2H      3/27/00     315,871,665.00
- -------      -------    ---------------
  2H-A1      125714CG8                     180,386,000.0
  2H-A2      125714CH6                     125,000,000.0
  2H-A3      125714CJ2                     10,485,000.00


1993-2I      3/27/00     367,955,786.00    42,112,739.44
- -------      -------    ---------------  ---------------

 2I-3IO      125714CL7                              0.00   0.0000358006               0             0.00          0.00             0
  2I-A1      125714CE3                     237,519,000.0   0.0008682365    0.0016852366    30,921,221.51         73.42  0.1301842021
  2I-A2      125714CD5                     130,435,853.0   0.0005279326    0.0001204456    11,191,517.93         26.58  0.0858009334
</TABLE>



<PAGE>   4


CMC SECURITIES CORPORATION II      SOURCE:  CHASE BANK OF TEXAS
BOND BALANCES AND FACTORS          MARCH 2000 DISTRIBUTION


<TABLE>
<CAPTION>
 SERIES   PAYMENT DATE  CLOSING BALANCE  CURRENT BALANCE

                                         CLOSING BALANCE  INTEREST PAID  PRINCIPAL PAID  CURRENT BALANCE  % OF CURRENT   CURRENT
 CLASS    CUSIP NUMBER      COUPON          PER CLASS       PER $1000       PER $1000       PER CLASS       BALANCE       FACTOR
- --------  ------------  ---------------  ---------------  -------------  --------------  ---------------  ------------  -----------
<S>       <C>           <C>              <C>              <C>            <C>             <C>              <C>           <C>

1995-A       3/27/00     176,490,904.00    29,553,103.22
- -------      -------    ---------------  ---------------

     A1      125714CV5                     82,117,691.00   0.0012152591     0.002409163    15,033,291.63         50.87  0.1830700723
     A2      125714CW3                     94,373,113.00   0.0009118167    0.0002303774    14,519,811.59         49.13  0.1538553845
     R       125714CX1                            100.00              0               0             0.00          0.00             0


1996-A       3/27/00     115,119,131.00    22,840,368.58
- -------      -------    ---------------  ---------------

     A       125714CY9                     115,119,031.0   0.0012260914    0.0073014679    22,840,368.58        100.00  0.1984065396
     R       125714CZ6                            100.00         0.0002               0             0.00          0.00             0

1996-B       3/27/00     207,490,355.00    44,376,066.53
- -------      -------    ---------------  ---------------

     A1      125714DA0                     41,914,009.00   0.0009778003    0.0075478776     6,056,129.46         13.65  0.1444893868
     A2      125714DB8                     165,576,246.0   0.0013724369    0.0025732595    38,319,937.07         86.35  0.2314337835
     R       125714DC6                            100.00              0               0             0.00          0.00             0

1996-C       3/27/00     266,806,262.00    37,375,043.48
- -------      -------    ---------------  ---------------

     A       125714DD4                     266,806,062.0   0.000780721     0.0041150039    37,374,943.48        100.00  0.1400828122
     R       N/A                                  100.00                                          100.00          0.00             1
     X       N/A                                  100.00
</TABLE>



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